BC Jindal Group’s Jindal India Renewable Energy (JIRE) has won a 180 MW solar plus storage project from state-owned, NHPC. The project is part of NHPC’s 1200 MW inter-state transmission system-connected solar power projects tender with 600 MW/1200 MW energy storage systems.
JIRE has secured 180 MW of solar power capacity from NHPC at a tariff of Rs 3.09/kWh. The company will be executing a solar project on a build-own-operate basis. The green-field project will be completed within 24 months from signing of the power purchase agreement (PPA).
Amit Kumar Mittal, CEO, Jindal India Renewable Energy, said, “Winning the competitive bid for this crucial project is a reflection of JIRE’s proficiency and capabilities in the renewable energy space. This also gives impetus to our goal of expanding the company’s capacity to 5 GW from solar, wind, hybrid, hydro and FDRE modes, within the next four years.”
NHPC will enter into an agreement with JIRE for 25 years. NHPC will purchase solar power from JIRE and sell it to state utilities and others. As part of the contract, JIRE will have to deploy an ESS of at least 0.5 MW/ 1MWh capacity for 1 MW contracted capacity.